IRM Energy Limited — Others, 13-11-2024: Statement of deviation(s) or variation(s) under Reg. 32

IRM Energy Limited has confirmed that there has been no deviation in the utilization of funds raised through its IPO during the quarter ended September 30, 2024. The IPO raised Rs. 5449.96 million, with net proceeds of Rs. 4957.59 million. The Audit Committee reviewed the fund utilization report, affirming adherence to the original objectives stated in the prospectus, primarily for capital expenditure related to City Gas Distribution in Tamil Nadu.

This update underscores the company's disciplined financial management, potentially enhancing investor confidence. Maintaining clear alignment with stated goals may contribute positively to IRM Energy’s reputation and stock performance in the market.